Can someone show me examples of how to do the work without actually using these figures please?

On July 1, 2019, Tim Stein established his own accounting practice. Selected transactions for the first few days of July follow.

DATE TRANSACTIONS

July1Signed a lease for an office and issued Check 101 for $11,700 to pay the rent in advance for six months.

July1Borrowed money from Second National Bank by issuing a four-month, 6 percent note for $43,200; received $42,336 because the bank deducted the interest in advance.

July1Signed an agreement with Carter Corp. to provide accounting and tax services for one year at $5,000 per month; received the entire fee of $60,000 in advance.

July 1Purchased office equipment for $19,200 from Office Outfitters; issued a two-month, 6 percent note in payment. The equipment is estimated to have a useful life of six years and a $3,360 salvage value. The equipment will be depreciated using the straight-line method.

July 1Purchased a one-year insurance policy and issued Check 102 for $1,728 to pay the entire premium.

July 3Purchased office furniture for $14,200 from Furniture Warehouse; issued Check 103 for $12,400 and agreed to pay the balance in 60 days. The equipment has an estimated useful life of five years and a $1,600 salvage value. The office furniture will be depreciated using the straight-line method.

July 5Purchased office supplies for $1,990 with Check 104. Assume $890 of supplies are on hand July 31, 2019.

Required:

1. Record the transactions in the general journal. Assume that the firm initially records prepaid expenses as assets and unearned income as a liability for the year 2019.
2. Record the adjusting journal entries that must be made on July 31, 2019.

Analyze:

What balance should be reflected inUnearned Accounting Feesat July 31, 2019?